Sun Life Financial (TSE:SLF) Sets New 12-Month High After Analyst Upgrade

Sun Life Financial Inc. (TSE:SLF - Get Free Report) NYSE: SLF hit a new 52-week high during mid-day trading on Tuesday after CIBC raised their price target on the stock from C$77.00 to C$80.00. CIBC currently has an outperform rating on the stock. Sun Life Financial traded as high as C$16.80 and last traded at C$70.42, with a volume of 488214 shares changing hands. The stock had previously closed at C$70.52.

Several other research firms also recently commented on SLF. Evercore upped their price objective on Sun Life Financial from C$76.00 to C$78.00 and gave the company an "outperform" rating in a research note on Tuesday, January 23rd. Desjardins increased their target price on Sun Life Financial from C$75.00 to C$77.00 and gave the stock a "buy" rating in a research note on Friday, February 9th. National Bankshares increased their target price on Sun Life Financial from C$72.00 to C$73.00 and gave the stock a "sector perform" rating in a research note on Friday. TD Securities increased their target price on Sun Life Financial from C$73.00 to C$75.00 and gave the stock a "hold" rating in a research note on Friday, April 12th. Finally, Jefferies Financial Group increased their target price on Sun Life Financial from C$82.00 to C$83.00 and gave the stock a "buy" rating in a research note on Wednesday, March 6th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Sun Life Financial presently has an average rating of "Moderate Buy" and an average target price of C$77.18.

Insider Buying and Selling

In related news, Senior Officer Daniel Fishbein sold 16,000 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of C$74.45, for a total value of C$1,191,120.00. Insiders own 0.03% of the company's stock.

Sun Life Financial Stock Performance

The company has a quick ratio of 84,866.00, a current ratio of 6.81 and a debt-to-equity ratio of 78.47. The stock has a 50 day simple moving average of C$72.55 and a 200 day simple moving average of C$69.66. The company has a market capitalization of C$40.94 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.25 and a beta of 0.96.

Sun Life Financial (TSE:SLF - Get Free Report) NYSE: SLF last announced its earnings results on Wednesday, February 7th. The financial services provider reported C$1.68 EPS for the quarter, topping the consensus estimate of C$1.59 by C$0.09. Sun Life Financial had a return on equity of 13.98% and a net margin of 10.26%. The firm had revenue of C$18.68 billion for the quarter. As a group, analysts anticipate that Sun Life Financial Inc. will post 6.9036382 earnings per share for the current fiscal year.

Sun Life Financial Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Wednesday, February 28th were paid a $0.78 dividend. The ex-dividend date of this dividend was Tuesday, February 27th. This is an increase from Sun Life Financial's previous quarterly dividend of $0.75. This represents a $3.12 dividend on an annualized basis and a dividend yield of 4.44%. Sun Life Financial's dividend payout ratio is 59.32%.

Sun Life Financial Company Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.

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